The future 30-story building will sit atop a Regional Connector station.

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by Steven Sharp on November 18, 2016, 9:41AM

Since spinning off its struggling publishing division, Tribune Media Company has gone to work monetizing its national real estate portfolio.

The Chicago-based corporation made one of its first moves in Los Angeles last month by filing plans to redevelop a parking lot near the Los Angeles Times Building as a mixed-use tower. The proposed development, which would sit atop Metro's future 2nd/Broadway Station, calls for the construction of a 30-story building featuring 107 condominiums, 534,000 square feet of commercial offices and approximately 7,200 square feet of ground-level retail space.

A rendering of the building portrays it as a stack of boxy, offset masses with cantilevered sections that create canopies and terrace decks. The tower's design take cues from nearby civic buildings such as the recently-completed Federal Courthouse and the Los Angeles Police Administration Building.

While Tribune plans for its tower, another transformative development is being contemplated directly across the street. Onni Group, the Vancouver-based real estate firm that purchased Times Mirror Square from Tribune earlier this year, is expected to rehabilitate several of complex's historic buildings as creative offices. A 1970s building and parking garage, located on the Broadway side of the property, could be razed for a residential development.